Trustees of British Airways-sponsored retirement scheme close to pension buy-in deal -Sky News

By Reuters • last updated: 09/12/2019

FILE PHOTO: Commuters pass a British Airways advert on the tube at Canary Wharf station in London, Britain September 7, 2018. REUTERS/Kevin Coombs - Copyright KEVIN COOMBS(Reuters)

Text size Aa Aa

(Reuters) – Trustees of British Airways-sponsored Airways Pension Scheme are close to a deal with Legal & General <LGEN.L> to insure more than 4 billion pounds ($5.22 billion) of its historic pension liabilities, Sky News reported on Wednesday.

The talks have been ongoing for months and could be concluded within days, Sky said, citing sources close to British Airways.

A spokesperson for the Airways Pension Scheme trustees declined to comment. Legal & General said it had no comment on the report.

($1 = 0.7664 pounds)

(Reporting by Philip George in Bengaluru; Editing by Mark Heinrich)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.